Market Overview:
The global smart grid technology market is expected to grow from USD 9.02 billion in 2018 to USD 21.01 billion by 2030, at a CAGR of 10.8% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for energy efficiency and renewable energy sources, growing concerns about climate change, and government initiatives toward the deployment of smart grids across various countries. The distribution management systems (DMS) segment is expected to hold the largest share of the global smart grid technology market in 2018.
Product Definition:
A Smart Grid is a term for a next-generation electrical grid that uses information and communication technologies to improve the efficiency, reliability, economics, and sustainability of the generation and distribution of electricity.
Distribution Management Systems (DMS):
DMS is a tool that helps to effectively manage the electric distribution system. It provides real-time data for voltage, current, and energy flow in an electrical network. DMS also helps to monitor the condition of equipment such as transformers and poles along with providing information related to their maintenance history.
Demand Response Management Systems (DRM):
DRM systems are a part of smart grid technology and they help in managing the demand response. Demand response management is the process through which electric utilities can manage energy resources more efficiently by engaging customers to reduce or modify their electricity consumption during peak usage times.
The growing penetration of smart meters coupled with rising awareness among consumers has led to an increase in demand for this technology over the past few years.
Application Insights:
The commercial use segment dominated the global smart grid technology market in 2017, accounting for over 60.0% share of the overall revenue. The growth can be attributed to increasing investments by various governments and private companies in order to develop new business models and improve customer services. For instance, according to a study published by NTT Data, Inc., Japan could generate around USD 305 billion annually through digital transformation of its economy if it were to invest at the rate of 1% of GDP every year from 2018 to 2020 (the period when investment is supposed to peak). However, only around USD 175 billion was invested during this period owing to lackadaisical approach towards implementation compared with anticipated rate. Such examples demonstrate that there is huge potential for smart grids across various industries which can be utilized through innovative technologies such as IoT and AI-based solutions leading toward improved end-user experience while reducing costs associated with operations & maintenance (O&M) activities over traditional infrastructural solutions.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period owing to increasing penetration of smart grid technology and growing demand for efficient power distribution. Moreover, initiatives by government bodies such as National Institute of Standards and Technology (NIST) are anticipated to propel industry growth over the next eight years.
Asia Pacific is projected to be one of the fastest-growing regions during the same period owing to rapid industrialization, coupled with increased adoption in commercial sectors such as retail and transportation. In addition, rising awareness regarding energy conservation among customers will drive regional growth over the forecast period. Europe also held a significant share in terms of revenue due mainlyto early adoptionof smart grid technologyin countries like Germanyand UK., which has resultedin high industry penetrationrates across these economies since 2014.
Growth Factors:
- Increasing demand for energy due to population growth and industrialization in developing countries
- Government initiatives and regulations for smart grid technology deployment
- Rising concerns about climate change and the need to reduce greenhouse gas emissions
- Advances in information and communication technologies (ICT) that enable the efficient management of large-scale distributed energy resources
- The increasing affordability of smart grid technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Grid Technology Market Research Report
By Type
Distribution Management Systems (DMS), Demand Response Management Systems (DRM), Meter Data Management Systems (MDMS), Supervisory Control and Data Acquisition (SCADA), Outage Management Systems (OMS), Smart Meter
By Application
Industrial Use, Commercial Use
By Companies
IBM Corp, Cisco Systems, Comverge Inc., Cooper Power Systems, LLC, Echelon Corp, Elster Group SE, eMeter Corporation, GE Energy, Grid Net Inc., Infrax Systems Inc., Iskraemeco, Itron Inc., Landis+GYR Ltd, OSIsoft LLC, Power Plus Communications AG, S&C Electric Co., Schneider Electric SA, Trilliant Inc., Ventyx Inc., Verizon Communications Inc.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
214
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Smart Grid Technology Market Report Segments:
The global Smart Grid Technology market is segmented on the basis of:
Types
Distribution Management Systems (DMS), Demand Response Management Systems (DRM), Meter Data Management Systems (MDMS), Supervisory Control and Data Acquisition (SCADA), Outage Management Systems (OMS), Smart Meter
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial Use, Commercial Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IBM Corp
- Cisco Systems
- Comverge Inc.
- Cooper Power Systems, LLC
- Echelon Corp
- Elster Group SE
- eMeter Corporation
- GE Energy
- Grid Net Inc.
- Infrax Systems Inc.
- Iskraemeco
- Itron Inc.
- Landis+GYR Ltd
- OSIsoft LLC
- Power Plus Communications AG
- S&C Electric Co.
- Schneider Electric SA
- Trilliant Inc.
- Ventyx Inc.
- Verizon Communications Inc.
Highlights of The Smart Grid Technology Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Distribution Management Systems (DMS)
- Demand Response Management Systems (DRM)
- Meter Data Management Systems (MDMS)
- Supervisory Control and Data Acquisition (SCADA)
- Outage Management Systems (OMS)
- Smart Meter
- By Application:
- Industrial Use
- Commercial Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Grid Technology Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Grid technology is a term used to describe a variety of technologies that are designed to improve the reliability, efficiency and sustainability of electricity grids. Some common examples of smart grid technologies include energy storage, demand response, electric vehicle charging infrastructure and communication networks.
Some of the key players operating in the smart grid technology market are IBM Corp, Cisco Systems, Comverge Inc., Cooper Power Systems, LLC, Echelon Corp, Elster Group SE, eMeter Corporation, GE Energy, Grid Net Inc., Infrax Systems Inc., Iskraemeco, Itron Inc., Landis+GYR Ltd, OSIsoft LLC, Power Plus Communications AG, S&C Electric Co., Schneider Electric SA, Trilliant Inc., Ventyx Inc., Verizon Communications Inc..
The smart grid technology market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Grid Technology Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Grid Technology Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Grid Technology Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Grid Technology Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Grid Technology Market Size & Forecast, 2020-2028
4.5.1 Smart Grid Technology Market Size and Y-o-Y Growth
4.5.2 Smart Grid Technology Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Distribution Management Systems (DMS)
5.2.2 Demand Response Management Systems (DRM)
5.2.3 Meter Data Management Systems (MDMS)
5.2.4 Supervisory Control and Data Acquisition (SCADA)
5.2.5 Outage Management Systems (OMS)
5.2.6 Smart Meter
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Industrial Use
6.2.2 Commercial Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Grid Technology Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Grid Technology Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Distribution Management Systems (DMS)
9.6.2 Demand Response Management Systems (DRM)
9.6.3 Meter Data Management Systems (MDMS)
9.6.4 Supervisory Control and Data Acquisition (SCADA)
9.6.5 Outage Management Systems (OMS)
9.6.6 Smart Meter
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Industrial Use
9.10.2 Commercial Use
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Distribution Management Systems (DMS)
10.6.2 Demand Response Management Systems (DRM)
10.6.3 Meter Data Management Systems (MDMS)
10.6.4 Supervisory Control and Data Acquisition (SCADA)
10.6.5 Outage Management Systems (OMS)
10.6.6 Smart Meter
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Industrial Use
10.10.2 Commercial Use
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Distribution Management Systems (DMS)
11.6.2 Demand Response Management Systems (DRM)
11.6.3 Meter Data Management Systems (MDMS)
11.6.4 Supervisory Control and Data Acquisition (SCADA)
11.6.5 Outage Management Systems (OMS)
11.6.6 Smart Meter
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Industrial Use
11.10.2 Commercial Use
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Distribution Management Systems (DMS)
12.6.2 Demand Response Management Systems (DRM)
12.6.3 Meter Data Management Systems (MDMS)
12.6.4 Supervisory Control and Data Acquisition (SCADA)
12.6.5 Outage Management Systems (OMS)
12.6.6 Smart Meter
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Industrial Use
12.10.2 Commercial Use
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Distribution Management Systems (DMS)
13.6.2 Demand Response Management Systems (DRM)
13.6.3 Meter Data Management Systems (MDMS)
13.6.4 Supervisory Control and Data Acquisition (SCADA)
13.6.5 Outage Management Systems (OMS)
13.6.6 Smart Meter
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Industrial Use
13.10.2 Commercial Use
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Grid Technology Market: Competitive Dashboard
14.2 Global Smart Grid Technology Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM Corp
14.3.2 Cisco Systems
14.3.3 Comverge Inc.
14.3.4 Cooper Power Systems, LLC
14.3.5 Echelon Corp
14.3.6 Elster Group SE
14.3.7 eMeter Corporation
14.3.8 GE Energy
14.3.9 Grid Net Inc.
14.3.10 Infrax Systems Inc.
14.3.11 Iskraemeco
14.3.12 Itron Inc.
14.3.13 Landis+GYR Ltd
14.3.14 OSIsoft LLC
14.3.15 Power Plus Communications AG
14.3.16 S&C Electric Co.
14.3.17 Schneider Electric SA
14.3.18 Trilliant Inc.
14.3.19 Ventyx Inc.
14.3.20 Verizon Communications Inc.
